Bitcoin (BTC) is leading the recovery in the crypto sector and the cryptocurrency briefly rallied to $48,429 on Sept. 15, before pulling back to test the underlying support levels. While speaking during a live stream at the SALT conference, Ark Invest CEO Cathie Wood said that Bitcoin is the default currency of the crypto space and could rise tenfold in the next five years. Her projection is based on the presumption that Bitcoin will find a place in the balance sheets of many companies and institutional investors will increase their allocation to Bitcoin and other cryptocurrencies to about 5%. Several …

According to derivatives markets, Ether (ETH) traders are still confident that there is the chance formore upside even though the 23% correction on Sept. 7 took a hit on prices. Ethereum network congestion also peaked on Sept. 7 when the average transaction fee reached $60, and since then it has remained above $17. As a result of the lingering challenges experienced by the network, investors have shifted into Ethereum competitors with bridge and layer-two capabilities. For example, Polkadot’s DOT rose by 29% over the past week and Algorand’s ALGO spiked 67%. Undoubtedly, there’s a quest for interoperability and layer-two scaling …

Bitcoin’s (BTC) failure to make a strong recovery in the past few days has resulted in profit-booking in most major altcoins, threatening to pull the total crypto market capitalization back below $2 trillion. The United States equity markets witnessed profit-booking and the S&P 500 dropped by 1.69% last week, suggesting the development of a risk-off sentiment. Charles Edwards, CEO of investment manager Capriole, pointed out that “almost every Bitcoin correction in 2021” has corresponded with a 2% or more drop in the S&P 500. Irrespective of the near-term weakness in Bitcoin, MicroStrategy has continued to build its holdings. The company’s …

Bitcoin (BTC) fell further at the start of the new week as a lack of bullish momentum sparked new lows near $44,000. Bitcoin threatens loss of $44,000 “demand zone” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD testing levels that analysts demand should stay as support. After a weekly close below both the key 50-day and 200-day moving averages, the pair looked increasingly less likely to reclaim them on shorter timeframes. For Cointelegraph contributor Michaël van de Poppe, the bullish crossover of the two averages, known as a “golden cross,” was still on the cards. There was, however, “no …

The price of Cardano (ADA) fell on Monday in line with the other top cryptocurrencies despite the completion of its hard fork upgrade dubbed “Alonzo,” which introduced smart contract functionality. The ADA/USD exchange rate dropped 10.67% to reach its intraday low of $2.30, partly due to profit-taking sentiment among traders following the pair’s 1,200%-plus price rally this year. Additionally, the intraday sell-off also surfaced in the period of an overall crypto market decline, with top tokens Bitcoin (BTC) and Ether (ETH) falling 4% and 6.97%, respectively. Cardano’s drop appeared when its core foundation rolled out a long-awaited smart contracts feature …

Bitcoin’s recent plunge does not seem to have shaken the investors and data shows that exchange reserves were down to 2.399 million Bitcoin (BTC), which is close to the May all-time low at 2.390 million Bitcoin. Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, said this could result in a “sell-side liquidity crisis on Bitcoin.” Although Bitcoin has outperformed gold by a huge margin in 2021, Omega Advisors chairman and CEO Lee Cooperman remains averse to investing in it because he said that he does not understand Bitcoin. The billionaire investor still considers gold to be a better store …

Analysts are attributing Bitcoin’s (BTC) plunge on Sept. 7 to the liquidation of over-leveraged positions. According to Bybt data, about $3.68 billion worth of long positions were liquidated in the last 24 hours in the Bitcoin options market. On-chain monitoring resource Whalemap said the decline was largely due to selling by whales who had bought their Bitcoin recently and not by the HODLers. Separately, analyst Willy Woo also said: “Leverage markets sold off but investor buying just got stronger.” Every bull market has its share of corrections where weaker hands are shaken out and the stronger hands solidify their position. …

Industry experts see Tuesday’s crypto market plunge as a “false dip” while reiterating the $100,000 Bitcoin (BTC) price for the end of the year. In a new report by Standard Chartered’s cryptocurrency research unit, Bitcoin is predicted to hit $100,000 “in late 2021 or early 2022,” accompanied by a huge Ether (ETH) price spike. The research team said that Ether is “structurally” valued at $26,000–$35,000 — 10 times its current price — but BTC must reach $175,000 for that to occur. Nick Spanos, one of the first BTC exchange operators and co-founder of Zap Protocol, defined the Tuesday crash in …

Bitcoin (BTC) could jump to $58,000 or dive to $44,000 from its current levels, an analyst warns as $50,000 sees a “very healthy retest.” Hedging bets against a “swift downwards move” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD fluctuating around the $51,000 mark on Tuesday after losing $2,000 in two hours earlier in the day. Overnight, the pair hit fresh highs of nearly $53,000, coinciding with bullish momentum on the back of El Salvador becoming the first sovereign state to officially adopt Bitcoin as a currency. Now, $50,000 is once again a deal-breaker for bulls and bears alike, …

Bitcoin’s (BTC) market capitalization is nearing the $1 trillion mark and several altcoins have also been rallying hard in the past few days. This has driven the Crypto Fear and Greed Index into the extreme greed territory where the range fluctuates between 79 and 100. Generally, tops are made when the index hits around 95, which shows there is some more room to run. PlanB, the creator of the Bitcoin stock-to-flow model, believes that BTC is on target to reach $100,000 by Christmas this year. Eventually, he believes that BTC price will be much higher than $100,000 before the end …

Bloomberg’s senior commodity strategist Mike McGlone has doubled down on his call for a six-figure Bitcoin (BTC), arguing that the first-ever cryptocurrency is well on its way to becoming a global reserve asset that complements the U.S. dollar. The September edition of Bloomberg’s Crypto Outlook called a $100,000 Bitcoin and $5,000 Ether (ETH) the “path of least resistance” after the two assets survived a more than 50% correction over the summer. “Crypto-assets appear in a revived and refreshed bull market with the 2H benefit of a steep discount from previous highs at the start,” wrote McGlone, referring to the second …

Bitcoin (BTC) has been struggling to break the $50,000 mark for over 10 days now. However, on Sept. 2, the premium cryptocurrency briefly surpassed the milestone, sending positive ripples across the market. Since then, the token has dropped below the mark to trade in the $49,000 range before rebounding to hit the $50,000 mark yet again on Sept. 3. As Bitcoin often behaves in a cyclical pattern, a look at the monthly trends for September could reveal patterns in the price, which in turn could be helpful to gauge the outlook for the upcoming month. Historically, September has been one …